Wachovia's board is forcing Ken
Thompson to "retire." In case you have any doubt about
whether this is actually a "retirement", Wachovia also announced
that it is beginning a search for a new CEO. A better way of
describing Thompson's departure, therefore, would be a real-time
defenestration.

And it's about time. We don't think CEOs like Ken should spend
the rest of their lives whimpering in the corner about all that
shareholder money they lost (and don't worry: they won't). We do
think they should at the very least accept some symbolic
responsibility for running their ships into icebergs. And if they
refuse to do that--by quitting--they should be canned.